SEBI - Reporting for AI/ML Applications and Systems Used by Market Infrastructure Institutions (MIIs), 2019
AI / PRIVACY / CYBER RELEVANCE
Creates direct regulatory visibility into AI/ML used for compliance/management and FinTech/RegTech.
AI: Very HighPrivacy: ModerateCybersecurity: High
READ FIRST
- Para 2 - scope
- Para 4 - quarterly reporting
- Annexure A - AI/ML scope
- Annexure B - reporting form
PURVIEW
Requires Market Infrastructure Institutions to report their use of AI/ML applications and systems to SEBI. Its purview includes the identification and reporting of AI/ML systems deployed in regulated market infrastructure and therefore creates regulatory visibility over where automated technologies are being used. For AI governance, the reporting framework supports inventory, supervisory oversight and accountability. For privacy and cybersecurity, it helps regulators understand which automated systems process sensitive market or user information and where associated technology, vendor and resilience risks may arise.
Classification and legal status. Binding reporting circular for stock exchanges, clearing corporations and depositories in scope.